Equity sharing

The equity sharing scheme is part of the House Sales Scheme. It lets our tenants buy their homes at a discount.

Equity sharing lets you buy part of your home, and rent the remaining part from us. Both you and the Housing Executive would then own a share of your home.

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‚ÄčTo be able to buy your home through equity sharing, you have to meet all the criteria under the House Sales Scheme.


House Sales Scheme Criteria

The smallest share you can buy is 25%. You can then buy extra equity. We call this as staircasing.

If you decide to buy more equity then you have to buy at least 5% each time.

The amount of discount that you get depends on the amount of equity that you buy.

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We will reduce your rent based on the share of the property that you have bought. The rent will also be reduced to cover maintenance of the property.

This deduction will remain the same for as long as you continue to pay rent for a part of your home.

We review the rental levels for all our properties every year. We may increase your rent as part of the annual review.

When you complete your equity purchase you will become a leaseholder. You can apply for Housing Benefit for the rented share of your home.

You will be responsible for the:

  • cost of all maintenance and repairs
  • payment of rates
  • service charges if you live in a flat
  • buildings and contents insurance
  • solicitor and building society valuation fees
  • independent valuation required to buy further equity in your home (“staircasing")
  • paying agency fees if you challenge the valuation of your home in further equity purchases

You may decide to sell your home within the first 10 years of buying equity. If you do, you must give us the option to buy back this part of your home.

If we do not buy it, you can sell it on the open market. We will then recover any equity that you owe to us at that time.

For example:

You decide to buy 50% equity in your home with a market value of £70,000. Your share costs you £35,000.

In year 10 you decide to sell your home, and we choose not to buy back the 50% share from you.

We will then have the house valued. If the valuation is £120,000 then you must pay us 50% equity on the £120,000 (or £60,000).

You must also pay any remaining mortgage on your home.

How we assess the property price
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